One Decision That Might Double Your Profit
I'm pretty sure this single, simple decision can easily double the profit of just about any company:
Starting immediately, the first sentence of every internal email will explain in 20 words or less why the email is being sent.
This decision accomplishes two things:
- It forces senders to limit themselves to emails that have a point and purpose.
- It allows recipients to quickly decide whether an email deserves attention.
The inevitable result is a vast reduction in useless email chatter. How much is that worth? Plenty.
According to a recent McKinsey study, the average worker spends about a third (!) of his or her workweek reading and answering emails.
Conservatively, this decision would halve the average time your average worker spends on email. That's the rough equivalent of reducing your personnel costs by around 16 percent.
So, let's say you're running a profit margin of 5 percent and your personnel costs are 50 percent of your expenses. With this single decision, therefore, you've increased your profit margin by 8 percent.
Food for thought, eh?
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GEOFFREY JAMES | Columnist
Geoffrey James was recently named a "Top 40 Social Selling Marketing Master" by Forbes, and his blog has won awards from the Society of American Business Editors and the American Society of Business Publication Editors. His writing has appeared in publications as diverse as Wired, Brandweek, and Men's Health, and he is the author of numerous books, including The Tao of Programming, Business Wisdom of the Electronic Elite, and, most recently, Business Without the Bullsh*t: 49 Secrets and Shortcuts You Need to Know.